Evergrande Auto to Raise HK$500 Million for NEV R&D

Evergrande Auto, the automobile manufacturer under Chinese real estate developer Evergrande Group, announced on Wednesday that it had signed an agreement with its placement agent on Tuesday. The agreement comprises an issuance of about 175 million shares at HK $2.86 per share, with an expected total proceeds of about HK $500 million.

The number of shares…